The turnover in the basic chemicals sector in Germany has demonstrated varied growth patterns from 2013 to 2023, with values stabilizing around 86.28 billion Euros in 2023. There were significant fluctuations, such as the sharp decline in 2016 and the notable rise in 2017. More recently, the sector displayed resilience with a 4.03% year-on-year increase from 2022 to 2023, reflecting a revival amid global uncertainties.
From 2019 to 2023, the CAGR was approximately 2.43%, indicating moderate but steady growth. Looking forward, the forecast suggests a robust upward trend, with an expected average annual growth (CAGR) of 2.73% from 2024 to 2028, forecasting a 14.4% increase over these five years.
Future trends to watch for:
- Technological advancements in chemical production.
- Environmental regulations impacting production processes.
- Global supply chain dynamics and geopolitical factors.
- Increasing demand for sustainable and green chemicals.
- Potential market expansion in emerging economies.
